SAN FRANCISCO (AP) — Chrysler's CEO apologized Saturday for the way he described the interest rates the U.S. and Canadian governments are charging on the bailouts his company received in 2008 and 2009. Sergio Marchionne, speaking Friday during an automotive conference in San Francisco, called the interest rates a "thorn" in his side and said that refinancing the two loans would mean no longer having to explain the "shyster rates.
WASHINGTON (AP) — The U.S. labor force has been split into two groups: the relieved and the desperate. Those who have a job are less likely to lose it than at any point in at least 14 years. Those who are unemployed are in trouble. Finding a job remains a struggle 20 months after the recession technically ended.
WASHINGTON (AP) — When President Barack Obama named Gene Sperling as his chief economic adviser, two of Sperling's early calls went to AFL-CIO President Richard Trumka and U.S. Chamber of Commerce President Thomas Donohue. Known for his pugilistic style, Donohue wasted no time. Come on over, he said.
STATE COLLEGE, Pa. (AP) — President Barack Obama, turning briefly to his eclipsed domestic agenda Thursday, called on the nation's businesses to make fresh investments in clean energy technology that lay a foundation for long-term American prosperity. He proposed a new tax credit and other measures to encourage businesses to retrofit their plants and reduce costs — steps that he said would save $40 billion a year in utility bills.
In this Jan. 26, 2011 photo, Terri Lewis installs a fan on a diesel engine on the Volvo truck assembly line at the Volvo plant in Dublin, Va. The work force was more efficient last year with productivity rising at the fastest pace in eight years while labor costs fell for a second straight year, something that hasn't happened in nearly five decades.
TOKYO (AP) — Honda's Fit subcompact overtook Toyota's Prius gasoline-electric hybrid as Japan's top-selling car in January, its first return to that spot in nearly two years. The figures released Friday by the Japan Automobile Dealers Association show how the end of government subsidies for green cars have hurt sales of the Prius after holding the top spot in Japan for 20 straight months.
MILWAUKEE (AP) — A Wisconsin meatpacking company has agreed to pay $1.65 million to settle a sex-discrimination lawsuit accusing it of rejecting 970 female applicants over a two-year period, the U.S. Labor Department said Thursday. Green Bay Dressed Beef LLC will pay the money in the form of back pay, benefits and interest, Labor Department spokesman Scott Allen said.
WASHINGTON (AP) — Car companies like General Motors and Nissan are slowly rolling out rechargeable electric cars. But that didn't stop thousands of U.S. taxpayers, including prisoners and some IRS employees, from incorrectly claiming lucrative tax credits for the electric vehicles last year. A Treasury Department inspector general report says nearly 13,000 taxpayers erroneously claimed about $33 million in credits for plug-in electric and alternative vehicles during the first six months of 2010.
WASHINGTON (AP) — The unemployment rate dropped sharply last month to 9 percent, based on a government survey that found that more than a half-million people found work. A separate survey of company payrolls showed a scant increase of 36,000 net jobs as snowstorms likely hampered hiring. That survey doesn't count the self-employed.
Douglas K. Woods, AMT President McLean, Va. — AMT, The Association For Manufacturing Technology, applauds President Obama’s creation of a new post overseeing manufacturing policy. Ron Bloom was named Special Assistant to the President for Manufacturing Policy within the White House’s National Economic Council.
PASCAGOULA, Miss. (AP) — Petroleum company Chevron Corp. said Monday that it will build a $1.4 billion lubricants plant in Pascagoula, Miss., a project that will create roughly 1,000 construction jobs over the next two years. The facility will extend Chevron's existing refinery in Pascagoula, which employs more than 1,600 workers.
SACRAMENTO, Calif. (AP) — More than $46 million was spent for and against a failed November ballot measure that would have suspended California's landmark global warming law, according to campaign finance reports filed Monday. Out-of-state oil companies and their supporters spent $10.5 million promoting Proposition 23, while opponents spent more than $36 million.
Pfizer beats views despite slight profit decline NEW YORK (AP) — Pfizer Inc. said Tuesday its fourth-quarter profit nearly quadrupled from a year ago when it was weighed down by restructuring charges, as revenue rose 6 percent, thanks to the addition of products from fellow drugmaker Wyeth, acquired late in 2009.
SANTA CLARA, Calif. (AP) — Intel Corp. on Monday said it has found a design flaw in a recently released chip, and is working with laptop makers to replace affected computers. Sales lost while the company rushes out a replacement chip, and the cost of replacing computers with the flawed chip, will cost the company $1 billion, it said.
DETROIT (AP) — Chrysler was collapsing when Fiat took control of the company just 19 months ago. Now, under the Italian automaker's detail-driven CEO, Chrysler is on the verge of turning its first profit since it filed for bankruptcy protection in 2009. Chrysler Group LLC on Monday said it dramatically narrowed its losses in the fourth quarter and 2010.
SHANGHAI (AP) — China's manufacturing boom eased further in January as authorities tightened controls on credit, though inflationary pressures continued to rise, according to data released Tuesday. The state-affiliated China Federation of Logistics and Purchasing said its purchasing managers index, or PMI, dipped to 52.
Factory sector expands at fastest pace in 7 years WASHINGTON (AP) — America's factory sector expanded in January at the fastest pace in seven years, asmanufacturers reported a sharp jump in new orders. The Institute for Supply Management, a private trade group, says its index of manufacturing activity rose last month to 60.
TOKYO (AP) — Toyota remains Japan's No. 1 global brand, but its value has fallen by nearly a fifth because of the recent massive recalls that dented consumer trust in the quality of its cars, according to an international consultant. An Interbrand report released Tuesday said that the value of the Toyota Motor Corp.
DETROIT (AP) — Despite snowy weather in the Northeast that kept buyers shoveling driveways and not shopping for cars, January auto sales in the United States are expected to come in higher than a year ago. Sales could rise 15 percent to 17 percent compared with last January, a sign that auto sales are continuing their slow, steady recovery from 2009, when sales bottomed out.
MANILA, Philippines (AP) — The Philippine economy galloped to its highest annual growth in more than two decades, expanding 7.3 percent in 2010 on strong foreign trade and election spending, officials said Monday, forecasting an equally strong expansion this year. Head of the government's statistical board Romulo Virola said the growth surpassed official growth projections of 5 percent to 6 percent.